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Companies generate income from their "regular" operations and from other sources like interest earned on...

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Accounting

Companies generate income from their "regular" operations and from other sources like interest earned on the securities they hold, which is called non-operating income. Lindley Textiles recently reported $916 of sales, $90 of fixed operating costs other than depreciation, variable operating costs are 44% of sales, and $140 of depreciation. The company had no amortization charges and no non-operating income. It had $2,808 of bonds outstanding that carry a 6% interest rate, and its federal-plus-state income tax rate was 22%. How much was Lindley's operating income, or EBIT? show your answer to the nearest $.01. Use a negative sign if the EBIT is negative. Do not use the $ sign in your answer.

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